Fiat Won't Improve Opel Bid

Fiat is now trying a different approach strategy when it comes to buying Opel. After struggling to convince the German government that Opel would have a bright feature under their umbrella, the Italians are now playing hard to get and announced, through the voice of CEO Sergio Marchionne, that Fiat won't go further with an improved bid for Opel.

Additionally, Marchionne emphasized that this is the best bid Fiat can submit for the German brand which is currently in deep talks with Canadian parts manufacturer Magna International.

"I don't believe we could improve Fiat's offer. It's the most rational one we can put forward from an industrial viewpoint," Marchionne was quoted as saying by Reuters.

While talking about Magna - Germany negotiations, Marchionne revealed that he heard talks there are some problems between the two sides. Basically, this means there's still room for other automakers in the deal so Fiat once again confirmed its interest.

Talks with Magna were "not going very well. We have confirmed our interest," Marchionne said.

Referring to the overseas markets, Fiat's CEO confirmed China is an important market for the Italian brand and hinted the venture with China's Guangzhou Automobile Industry Group is only the first of a series of major steps.

The United States on the other hand will see the first signs of recovery in the second half of 2009, Marchionne thinks and revealed the new Chrysler board will decide in the next weeks which are the product lines to remain open.

"America will start up again in the second half of 2009; Europe will be there later," he said. "Hopefully in the next 14 days we will clean that up and we will have at least a roadmap from a product standpoint."